Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) SVP Nelson Munpun Wong Sells 30,000 Shares

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) SVP Nelson Munpun Wong sold 30,000 shares of Kulicke and Soffa Industries stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $47.56, for a total transaction of $1,426,800.00. Following the completion of the transaction, the senior vice president now owns 177,533 shares of the company’s stock, valued at $8,443,469.48. This represents a 14.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Kulicke and Soffa Industries Stock Performance

Shares of KLIC opened at $49.17 on Monday. Kulicke and Soffa Industries, Inc. has a fifty-two week low of $38.20 and a fifty-two week high of $56.71. The firm has a 50-day simple moving average of $45.06 and a 200-day simple moving average of $45.36. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -39.98 and a beta of 1.38.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its earnings results on Wednesday, November 13th. The semiconductor company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The firm had revenue of $181.30 million during the quarter, compared to analysts’ expectations of $180.03 million. Kulicke and Soffa Industries had a negative net margin of 9.77% and a negative return on equity of 0.92%. The firm’s revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 EPS. Equities research analysts forecast that Kulicke and Soffa Industries, Inc. will post 1.29 EPS for the current year.

Kulicke and Soffa Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, January 7th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.67%. This is an increase from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, December 19th. Kulicke and Soffa Industries’s dividend payout ratio (DPR) is presently -65.04%.

Kulicke and Soffa Industries declared that its board has initiated a stock repurchase program on Wednesday, November 13th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the semiconductor company to reacquire up to 11.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Kulicke and Soffa Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its position in shares of Kulicke and Soffa Industries by 137.5% in the third quarter. Advisors Asset Management Inc. now owns 715 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 414 shares in the last quarter. Signaturefd LLC boosted its position in Kulicke and Soffa Industries by 226.3% during the 3rd quarter. Signaturefd LLC now owns 783 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 543 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Kulicke and Soffa Industries in the third quarter worth about $53,000. Blue Trust Inc. boosted its holdings in Kulicke and Soffa Industries by 17,075.0% in the 2nd quarter. Blue Trust Inc. now owns 1,374 shares of the semiconductor company’s stock worth $69,000 after acquiring an additional 1,366 shares during the period. Finally, Innealta Capital LLC acquired a new stake in Kulicke and Soffa Industries during the 2nd quarter valued at $73,000. Institutional investors and hedge funds own 98.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. TD Cowen lifted their price objective on shares of Kulicke and Soffa Industries from $45.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, November 15th. DA Davidson decreased their price target on Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating for the company in a report on Friday, November 15th. Needham & Company LLC raised Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Friday, November 15th. Craig Hallum lowered their price target on Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, StockNews.com cut shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $52.40.

Kulicke and Soffa Industries Company Profile

Kulicke and Soffa Industries, Inc designs, manufactures, and sells capital equipment and tools used to assemble semiconductor devices. It operates through four segments: Ball Bonding Equipment, Wedge Bonding Equipment, Advanced Solutions, and Aftermarket Products and Services (APS). The company offers ball bonding equipment, wafer level bonding equipment, wedge bonding equipment; and advanced display, die-attach, and thermocompression systems and solutions, as well as tools, spares and services for equipment.